Refined Energy Corp. Receives Formal Drill Program Proposal for Dufferin Project Drill Program

Rhea-AI Summary

Refined Energy (OTC: RRUUF) received a formal drill program proposal from Eagle Plains for the Dufferin Project, planning a Phase I 1,200 metre, three-hole drill program targeted for Q1 2026.

The proposal includes ground gravity and electromagnetic surveys to refine targets and an initial budget of approximately $1.7 million, with eligibility for up to $50,000 from the Targeted Mineral Exploration Incentive. Dufferin covers > 14,800 hectares and sits ~18 km from Cameco’s Centennial deposit; targeting NE–SW structures associated with uranium mineralization.

Positive

• Planned Phase I drill program: 1,200 metres in Q1 2026
• Initial program budget of approximately $1.7 million
• Project covers > 14,800 hectares near known uranium systems

Negative

• Budget subject to adjustments based on timing, progress, results
• Drilling contingent on securing contractors and winter conditions

Key Figures

Planned drilling 1,200 metres Phase I drill program at Dufferin West planned for Q1 2026

Drill holes 3 holes Phase I program to test two conductors on Dufferin West

Initial budget $1.7 million Initial Phase I drill and survey budget, subject to adjustments

Exploration incentive $50,000 Targeted Mineral Exploration Incentive towards drilling costs

Distance to Centennial 18 km Dufferin located ~18 km from Cameco’s Centennial deposit

Deposit grade interval 8.78% U3O8 over 33.9 m Historic hole VR-031W3 at Cameco’s Centennial Deposit

Project area 14,800 hectares Combined Dufferin North and Dufferin West project size

Program timing Q1 2026 Target start period for the Dufferin drill program

Market Reality Check

$0.3313 Last Close

Volume Volume 12,726 vs 20-day average 16,223 (relative volume 0.78x) shows no unusual trading activity. normal

Technical Price 0.3217 is trading above the 200-day MA at 0.20, indicating a pre-existing upward trend before this news.

Peers on Argus

While RRUUF gained 15.51%, key peers like GURFF and ORESF declined 3.01% and 12%, with others flat, indicating a stock-specific move rather than a sector-wide shift.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 08	Drill program proposal	Positive	-3.7%	Formal Phase I drill proposal for Dufferin West with ~1,200m program.
Dec 02	Board/option changes	Neutral	-18.9%	New director added and Simard option amended with reduced claim package.
Nov 10	Corporate update	Positive	+11.4%	Corporate update, $2M equity financing and Q1 2026 exploration plans.
Jun 30	Technical report filed	Positive	+0.0%	NI 43-101 report recommending a four-hole, 1,250m drill program at Dufferin.

Pattern Detected

Recent operational and exploration updates often saw muted or negative reactions, with only one of four events showing a clearly positive price alignment.

Recent Company History

This announcement continues Refined Energy’s focus on advancing the Dufferin project, following earlier technical reporting and Q1 2026 exploration planning. A Jun 30, 2025 NI 43-101 report recommended a starter drill program, and a Nov 10, 2025 corporate update detailed financing and broader drilling plans. Board strengthening and option amendments on Dec 2, 2025 adjusted the Simard property footprint. Today’s formal drill proposal for ~1,200 metres at Dufferin West fits into this progression from technical study toward active drilling.

Market Pulse Summary

This announcement detailed a structured Phase I drill program of about 1,200 metres at the Dufferin West property, supported by gravity and electromagnetic surveys and an initial budget of $1.7 million. It advances prior technical work, including the Jun 30, 2025 NI 43-101 report and earlier drill recommendations, toward execution in Q1 2026. Investors may watch for finalized contractor arrangements, program start-up, and any follow-up expansion decisions as key milestones for this exploration campaign.

Key Terms

gravity and electromagnetic surveys technical

"The Phase I proposal includes ground-based gravity and electromagnetic surveys"

Gravity and electromagnetic surveys are non-invasive ground or airborne tests that map what’s beneath the surface by measuring tiny variations in the Earth’s pull (gravity) and how underground rocks conduct or block electric and magnetic signals (electromagnetics). Think of gravity surveys like a very sensitive scale that detects hidden masses, and electromagnetic surveys like a searchlight that reveals conductive structures; together they help investors judge where valuable minerals, oil, gas, or groundwater are likely to be, lowering drilling risk and informing project value.

airborne geophysical data technical

"reinterpretation of airborne geophysical data and compilation of historical data"

Airborne geophysical data are measurements taken by sensors on planes, helicopters or drones that detect physical signals from the ground—such as magnetic patterns, subtle gravity shifts or buried conductive zones—while flying over large areas. For investors, these maps act like a high‑altitude metal detector or X‑ray: they reveal hidden structures and potential mineral, oil or groundwater targets, helping companies focus drilling, reduce exploration costs and lower the risk of wasting capital on unlikely sites.

uranium-bearing systems medical

"structures that correspond with known uranium-bearing systems across the region"

Uranium-bearing systems are geological zones or rock formations that contain concentrated uranium minerals and related features where uranium is naturally present. For investors, they matter because these areas are the source of extractable uranium used in nuclear fuel; like a fruit tree for harvest, the size, concentration and ease of access determine how much can be economically produced, which affects a mining project's value and regulatory and environmental obligations.

unconformity- and basement-hosted uranium mineralization technical

"prospective for unconformity- and basement-hosted uranium mineralization"

Unconformity- and basement-hosted uranium mineralization describes uranium deposits that occur where younger sedimentary rocks meet much older crystalline ‘basement’ rocks, with uranium concentrated both along that contact (the unconformity) and within the fractured basement below. Think of it like a stain that soaks into a carpet seam and the floorboards beneath — its location and rock type determine how easy the deposit is to find, mine and process, so investors judge project value, cost and risk based on depth, grade, and environmental complexity.

structural zones technical

"brittle, reactivated structural zones, all of which are present within the Dufferin Project area"

Structural zones are price ranges on a stock or market chart where buying or selling interest has historically been concentrated, creating reliable floors or ceilings for price movement. Investors watch these zones because they act like tide lines on a beach: they show where momentum often pauses, reverses, or accelerates, helping to gauge risk, set entry and exit points, and size positions with greater confidence.

qualified person regulatory

"C. C. (Chuck) Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

national instrument 43-101 regulatory

"for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

AI-generated analysis. Not financial advice.

Athabasca Basin 1200 metre Drill Program Planned for First Quarter 2026

VANCOUVER, British Columbia, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU; OTC: RRUUF; FRA: CWA0) (“Refined” or the “Company”) is pleased to announce that it has received a formal drill program proposal from Eagle Plains Resources Ltd. (“Eagle Plains”). The program is driven by results from geophysical and technical work, paired with advanced interpretive analysis to define the most promising targets. The Phase I proposal includes ground-based gravity and electromagnetic surveys and 3 drill holes totalling approximately 1200 metres, designed to test two distinct conductors on the Dufferin West property.

Drill targeting incorporates a comprehensive reinterpretation of airborne geophysical data and compilation of historical data, confirming the presence of key NE-SW trending structures that correspond with known uranium-bearing systems across the region. The proposed gravity and electromagnetic surveys will refine target definition and guide additional targets for follow up drilling. The initial budget is approximately $1.7 million, subject to adjustments based on timing, progress and ongoing results. The program is structured to allow for expansion as drilling advances and new targets are generated. Additionally, the program will be eligible for the Targeted Mineral Exploration Incentive, to receive up to $50,000 towards drilling-related program costs.

The Dufferin Project consists of two properties, Dufferin North and Dufferin West, both of which are located approximately 18km from Cameco’s Centennial Deposit (historic drill hole VR-031W3 intersected 8.78% U308 over 33.9m).¹ Refined and Eagle Plains have expanded the Dufferin Project several times since project acquisition, and it now covers more than 14,800 hectares. The properties are prospective for unconformity- and basement-hosted uranium mineralization associated with NE-SW trending faults. Mineralization in the district is typically localized along faulted basement contacts and brittle, reactivated structural zones, all of which are present within the Dufferin Project area.

Mark Fields, Chief Executive Officer of the Company, stated, “We are pleased to receive the formal drill program proposal after a number of constructive discussions with Eagle Plains on the most effective program to test the promising conductors. Eagle Plains, together with TerraLogic Exploration, which has been engaged to carry out the field operations, is now moving forward with securing contractors needed to initiate the drill program in the first quarter of 2026 and capitalize on optimal winter conditions.”

Qualified Persons

C. C. (Chuck) Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.

About Refined Energy Corp.

Refined Energy Corp. is a Canadian exploration company focused on the discovery and advancement of uranium and critical energy metal projects within tier-one jurisdictions. With its Dufferin, Milner, and Basin projects located in Saskatchewan’s Athabasca Basin region, the Company is advancing a diversified pipeline of assets supporting the clean energy transition.

For further information, please contact:

Eli Dusenbury
Chief Financial Officer
+1 (604) 398-3378
info@refinedenergy.com

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events.

In particular this press release contains statements including the planned Q1 2026 drill program, the engagement of consultants, exploration objectives, technical interpretations, and the potential of the Dufferin, Milner, and Basin Projects. Forward-looking information is based on assumptions management believes are reasonable at the time of writing, including successful completion of the financing, availability of equipment and contractors, and regulatory approvals.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Company does not use the proceeds from the Private Placement as currently expected; risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined and the risk that exploration and development activities will cost more than the amount budgeted for such activities by the Company; risks relating to changes in mineral prices and the worldwide demand for and supply of minerals; risks related to increased competition and current global financial conditions; access and supply risks; risks associated with the Company’s reliance on key personnel; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

¹ This result was taken from Saskatchewan Industry and Resources Assessment Work File: 74G12-0061, Cameco Corp., 2009, DDH VR-031W3. The Company has not had a qualified person verify this information, and this information is not necessarily indicative of the mineralization (if any) present at the Dufferin Project.

FAQ

What drill program did Refined Energy (RRUUF) receive for Dufferin on December 8, 2025?

A formal Phase I proposal from Eagle Plains for 3 drill holes totaling ~1,200 metres with gravity and electromagnetic surveys planned.

When is the Dufferin Project drill program for Refined Energy (RRUUF) scheduled to start?

The program is planned to initiate in Q1 2026, targeting optimal winter conditions.

How much is the initial budget for Refined Energy's (RRUUF) Dufferin drill program?

The initial budget is approximately $1.7 million, subject to adjustments as work progresses.

Is the Dufferin drill program for Refined Energy (RRUUF) eligible for government incentives?

Yes; the program is eligible for the Targeted Mineral Exploration Incentive for up to $50,000 toward drilling costs.

How close is Refined Energy's Dufferin Project to Cameco's Centennial deposit mentioned in the December 8, 2025 announcement?

The Dufferin properties are located approximately 18 km from Cameco’s Centennial deposit.